Placement Report 2013

Transcription

1 Stockholm School of Economics The Stockholm School of Economics (SSE) is the preeminent business school in Northern Europe. For a century, SSE has educated talented men and women for leading positions within business and the public sector. SSE offers bachelor s and master s degree programs along with a highly regarded Executive Education and MBA. SSE has earned a reputation for excellence, both here in Sweden and around the world. The School is accredited by EQUIS (European Quality Improvement System) certifying that all of its main activities teaching as well as research are of the highest international standard. SSE is also the Swedish member institution of CEMS (The Global Alliance in Management Education). Stockholm School of Economics P.O. Box 6501 SE Stockholm, Sweden Phone: info@hhs.se Master of Science Programs Placement Report 2013

2 Placement Report 2013 MSc Programs in Business & Economics and General Management Students in the two-year Master of Science Program in Business & Economics and General Management who finished their studies by January 31, 2013, made up the sample for this survey. They graduated with specializations in Accounting & Financial Management, Economics, Finance, Management, Marketing & Media Management and General Management. Most of them graduated in 2012, so they are referred to as 2012 graduates. The response rate was 62 percent based on a cohort of 194 students. The Placement Report is published annually for all Bachelor and Master of Science programs. GRADUATE PROFILE Graduates had a median age of 25. Graduates in General Management had a median age of 28. Forty-six percent of the graduates responding to the survey were female, and 54 percent male. The median number of jobs applied for was seven, and the median number of offers was two. Seventeen percent of the respondents from the Business & Economics specialization earned an additional joint degree in Management through SSE s affiliation with CEMS, a global consortium of business schools in which SSE is the exclusive representative in Sweden. CEMS was ranked No. 3 among Master of Science programs worldwide by the Financial Times (2012). In addition to those 17 percent, 44 percent of the graduates in Business & Economics studied abroad through the SSE exchange program. Age on graduation (median) 25 Women 46% Men 54% CEMS 17% Total no. of respondents:

3 2012 SSE MSC GRADUATES SHOW HIGH HIRING RATES Ninety-one percent of the graduates had jobs within three months of graduation. Seventy percent had accepted a full-time offer by the graduation date. Twenty-four percent accepted an offer more than six months before graduation. Seventy-eight percent of the female graduates and 64 percent of the male graduates had found employment by the graduation date. LENGTH OF TIME TAKEN TO FIND EMPLOYMENT All Women Men > 6 months before graduation 24% 16% 31% 4 6 months before graduation 14% 18% 10% 2 3 months before graduation 21% 26% 18% 0 1 months before graduation 11% 18% 5% 0 1 months after graduation 13% 8% 18% 2 3 months after graduation 8% 4% 11% 4 6 months after graduation 8% 10% 5% > 6 months after graduation 1% 2% 100% 100% 100% Number of respondents LENGTH OF TIME TAKEN TO FIND EMPLOYMENT WITHIN DIFFERENT INDUSTRIES Management Consulting Consulting, other Investment Banking Finance/Banking, other Consumer Products > 6 months before graduation 50% 7% 25% 40% 13% 4 6 months before graduation 10% 14% 25% 30% 13% 2 3 months before graduation 20% 43% 17% 0 1 month before graduation 22% 8% 24% 0 1 month after graduation 15% 17% 20% 13% 2 3 months after graduation 7% 8% 10% 4 6 months after graduation 5% 7% 24% > 6 months after graduation 13% 100% 100% 100% 100% 100% Number of respondents WAYS TO FIND JOB The two primary methods used by men and women to find employment were career portals on company websites and company presentations. Contacting an employer directly, friends and other contacts, ads on the SSE Placement Board (SASSE*) and internships were also used in job searches. Company presentations, career portals on company websites and contacting an employer directly are methods used by more than half of the female graduates, while male graduates found jobs to a greater extent also through internships, ads on the placement board (SASSE*) and friends or other contacts. In the Capstone Project, students in General Management work closely with a company during the last year of the program. MAIN WAYS TO FIND JOB Career Portal on Company website Company presentations I contacted an employer Friends or other contacts Ad on Placement Board (SASSE) Previous internship Previous employment Ad of recruitment center or company web site Inquiry from employer/recruitment company Started my own company Other CV data bases Capstone project Newspaper ads SSE department contacts Ad on another recruitment center My thesis work Other Women Men Number of respondents: Women 49 Men 57 % Men Women 4 * Student Association at the Stockholm School of Economics 5

4 PLACEMENT BY INDUSTRY PLACEMENT IN SWEDEN AND ABROAD GRADUATES EMPLOYED: All Women Men in Sweden Abroad Management Consulting 18% 18% 18% Management Consulting 16% 21% Consulting, other 13% 16% 10% Consulting, other 12% 14% Investment Banking 10% 10% 10% Investment Banking 6% 19% Finance/Banking, other 9% 8% 10% Finance/Banking, other 7% 12% Consumer Products 6% 8% 5% Consumer Products 6% 9% Academic Research 4% 4% 4% Academic Research 6% Adevertising/PR/Information/Market Communication 4% 2% 5% Adevertising/PR/Information/Market Communication 4% 2% Media/Culture 4% 2% 5% Media/Culture 6% POPULAR INDUSTRIES Management Consulting, other Consulting, Investment Banking, other Finance/Banking and Consumer Products were the most popular industries among respondents. Fifty-seven percent of the graduates chose to start their careers in one of these industries. Management Consulting and Investment Banking are equally popular among men and women. Other Consulting and Consumer Products were chosen by a higher percentage of women than men, while a higher percentage of men chose other Finance/ Banking. For those employed outside Sweden, Management Consulting and Investment Banking attracted the biggest proportion of graduates, followed by other Consulting and other Finance/Banking. EMPLOYMENT IN INDUSTRIES FOR DIFFERENT SPECIALIZATIONS % Management Marketing & Media Management Accounting & Financial Management Economics Finance General Management Consumer Products Finance/Banking, other Investment Banking Consulting, other Management Consulting Public Administration 4% 6% 2% Accounting/Audit 2% 4% Computer/IT 3% 2% 4% Construction/Real Estate 2% 4% Education/Teaching 2% 2% 2% Health Services/Medical Care 2% 2% 2% Manufacturing Industry 2% 2% 2% Retail 3% 2% 4% Food 1% 2% Human Resources/Recruitment 1% 2% Insurance 1% 2% Law 1% 2% Transport/Communication 2% 2% 2% Travel/Hotels/Tourism/Restaurants 1% 2% Other 5% 4% 7% 100% 100% 100% No. of respondents Public Administration 4% 2% Accounting/Audit 3% Computer/IT 2% 5% Construction/Real Estate 3% Education/Teaching 5% Health Services/Medical Care 3% Manufacturing Industry 3% Retail 3% 2% Food 2% Human Resources/Recruitment 2% Insurance 2% Law 2% Telecommunication 2% Transport/Communication 2% Travel/Hotels/Tourism/Restaurants 2% Other 6% 5% 100% 100% No. of respondents

5 MEDIUM-SIZED COMPANIES MOST POPULAR SSE graduates are attracted to companies of different size. The median range of employees was 251 1,000 for Master of Science graduates (excluding General Management). Only six percent chose a company with 10 or fewer employees, and 15 percent a company with more than 50,000 employees. This indicates a trend towards medium-sized companies compared to last year s survey. Among graduates with the General Management specialization, the median was 1,001 10,000 employees. This was in line with last year s survey. SIZE OF COMPANY Number of Employees MSc (excl. GM) General Management 1 2 1% 8% % 13% % % 13% 251 1,000 18% 8% 1,001 10,000 19% 16% LOCATION OF PLACEMENT Almost 40 percent of the graduates chose a job outside Sweden: elsewhere in Europe, North America or Asia. Europe attracted the most. Seventy-two percent of the female graduates chose their first position in Sweden, compared to 53 percent of the male graduates. TOTAL NORTH AMERICA 6% ASIA 1% The graduates median number of working hours per week varied between industries. Graduates working in Management Consulting reported a median of 60 working hours per week. Among those in other Finance/Banking, the median was 55 hours per week. For Investment Banking, Consumer Products and other Consulting, the median was 50 hours per week or less. 10,001 50,000 13% 42% 50, ,000 5% * 100, ,000 8% * > 500,000 2% * 100% 100% No. of respondents EUROPE 32% * GM students were only given the option more than 10,000 employees SWEDEN 61% NUMBER OF WORKING HOURS PER WEEK WOMEN MEN Median Management Consulting 60 NORTH AMERICA 6% ASIA 2% NORTH AMERICA 5% ASIA 0% Consulting, other 45 Investment Banking 50 Finance/Banking, other 55 Consumer Products 50 All industries 45 EUROPE 20% EUROPE 42% SWEDEN 72% SWEDEN 53% 8 9

6 BONUS AND COMISSIONS GRADUATES RECEIVED Sign-on bonus Yearly bonus Median range 35,000 49,999 50,000 99,999 SALARIES BY INDUSTRY The basic monthly salary had a median range of SEK 30,000 34,000. This is in line with last year s survey. Management Consulting remained at the top, this year with a median range of SEK 42,000 46,000, which is one interval higher than last year. Investment Banking, other Finance/Banking and other Consulting all had a median range of SEK 30,000 34,000, and Consumer products showed a median of SEK 26,000 30,000. The median salary level in Sweden was SEK 26,000 30,000, abroad SEK 34,000 38,000. Fifty-five percent of the respondents stated they have received a sign-on or annual bonus for their first job. The median sign-on bonus was in the range SEK 35,000 50,000, and the median annual bonus SEK 50, ,000. SALARIES IN SWEDEN AND ABROAD Monthly Base Salary GRADUATES EMPLOYED: in Sweden Abroad < SEK 18,000 (< EUR 2,000) 6% 2% SEK 18,000 21,999 (EUR 2,000 2,400) 8% 10% SEK 22,000 25,999 (EUR 2,400 2,850) 10% 15% SEK 26,000 29,999 (EUR 2,850 3,300) 26% 15% SEK 30,000 33,999 (EUR 3,300 3,750) 23% 7% SEK 34,000 37,999 (EUR 3,750 4,200) 8% 10% SEK 38,000 41,999 (EUR 4,200 4,600) 5% 15% SEK 42,000 45,999 (EUR 4,600 5,050) 9% 2% SEK 46,000 49,999 (EUR 5,050 5,500) 5% 5% SEK 50,000 53,999 (EUR 5,500 5,950) 17% SEK 54,000 57,999 (EUR 5,950 6,400) SEK 58,000 61,999 (EUR 6,400 6,800) SEK 62,000 65,999 (EUR 6,800 7,200) >=SEK 66,000 (EUR 7,200) 2% 100% 100% No of respondents SALARIES BY INDUSTRY Monthly Base Salary All Management Consulting Consulting, other GRADUATES EMPLOYED IN: Investment Banking Finance/ Banking, other < SEK 18,000 (< EUR 2,000) 4% SEK 18,000 21,999 (EUR 2,000 2,400) 8% 14% 17% 13% SEK 22,000 25,999 (EUR 2,400 2,850) 10% 5% 22% 25% 10% 25% SEK 26,000 29,999 (EUR 2,850 3,300) 22% 10% 30% 25% SEK 30,000 33,999 (EUR 3,300 3,750) 14% 15% 29% 8% 10% 25% SEK 34,000 37,999 (EUR 3,750 4,200) 13% 14% 17% 10% SEK 38,000 41,999 (EUR 4,200 4,600) 8% 10% 7% 17% SEK 42,000 45,999 (EUR 4,600 5,050) 6% 25% 20% 13% SEK 46,000 49,999 (EUR 5,050 5,500) 7% 15% 7% 10% SEK 50,000 53,999 (EUR 5,500 5,950) 6% 20% 7% 8% 10% SEK 54,000 57,999 (EUR 5,950 6,400) 1% SEK 58,000 61,999 (EUR 6,400 6,800) SEK 62,000 65,999 (EUR 6,800 7,200) >=SEK 66,000 (EUR 7,200) 1% 8% Consumer Products 100% 100% 100% 100% 100% 100% No of respondents

7 SIGNIFICANCE OF SPECIALIZATION FOR THIS EMPLOYMENT * All Women Men Very much 47% 56% 40% Quite a bit 25% 21% 27% Quite little 19% 18% 20% Very little 9% 5% 13% 100% 100% 100% No of respondents * The table show the results for all MSc graduates, except GM specialization MAIN REASON FOR CHOOSING THIS EMPLOYMENT When asked to state their key reasons for their choice of employment, 2012 graduates indicated the job assignment and/or area of responsibility, professional and personal development and career opportunities. Almost 40 percent of the women chose their job for reasons of professional and personal development. Among the male graduates, the job assignment and/ or area of responsibility were the main reason for 32 percent. MAIN REASON FOR CHOOSING THIS EMPLOYMENT Job assignment and/or area of responsibility Professional and/or personal development Career opportunities The company s / organisation s culture/values Lack of alternatives Image/reputation of the company /organization Geographical location SIGNIFICANCE OF SPECIALIZATION FOR THIS EMPLOYMENT Three quarters of the graduates (excluding General Management specialization) stated their specialization subject was highly significant for their employment. The specialization was considered of greater significance by the female graduates than the male graduates. Seventy-four percent of the respondents (excluding General Management specialization) did an internship during their studies. The majority (78 percent) claim that the internship had an impact on the job they secured. SIGNIFICANCE OF SPECIALIZATION FOR THIS EMPLOYMENT * REQUIRES FEWER QUALIFICATIONS 2% REQUIRES MORE QUALIFICATIONS 14% Other Women Men % Eighty-four percent of the graduates (excluding General Management specialization) found their occupation corresponded well to their level of education. Only 2 percent think that their position requires fewer qualifications. IT CORRESPONDS TO EDUCATION 84% *The table show the results for all MSc graduates, except GM specialization 12 13

8 EMELIE LEVALL Specialization in Marketing & Media Management After graduation, I started as a trainee in the Nordic Junior Management Program at Mondelēz International, one of the world s largest snacks companies, holding many brands, such as Marabou, Stimorol, and Tassimo. I currently work as a Project Commercialization Manager in the coffee category. I am about to move to Oslo to work as an Assistant Brand Manager in the chocolate category. I chose SSE because it s the best business school in Sweden and one of the best in Europe. I wanted a solid education that would prepare me for an international career that could take different paths. The specialization in Marketing & Media Management provided me with a relevant, nuanced and solid framework. Guests from prominent companies frequently held interesting lectures and workshops that gave us insight into business and a chance to work with real world challenges. The whole Master s program was a great experience and has helped my career in many ways. I gained a theoretical toolkit I now rely on, and the program prepared me for life beyond school. I have a network of people and friends that span many industries, companies and countries which you do not easily get elsewhere. Also, SSE s good reputation has followed me. ANDREAS SCHÖRLING General Management I work as a Global Venture Development Manager at Rocket Internet. After I completed my MSc in Engineering with Aeronautics at the Royal Institute of Technology in Stockholm, I realized I wanted an overall perspective of a company. This would have been hard to achieve with only my engineering background. Then I heard about the MSc in General Management at SSE, and it seemed tailored to my needs. Adding the reputation and network present at the school to the equation made it an easy choice to apply. All the hygiene factors for a satisfying education are there: good teachers, good structure and strong links to business. However, what distinguishes the program is the great participants, many of whom remain my friends. There was a well-balanced mix of people with different academic and cultural backgrounds, making it a perfect environment to prepare you for a career in a globalized world. The program provided me with a broad toolbox allowing me to contribute in most professional situations. Even more importantly, all the interaction with the business world prepared me to take on great responsibility from an early point in my career. ALEKSANDRA KLEIN Specialization in Management After graduation from SSE and an internship at The Grameen Creative Lab, I was employed full-time as a consultant at Deutsche Bank Inhouse Consulting in Frankfurt, Germany. Despite my positive work experience, I have recently decided to switch to academia. I am now a PhD student at Wirtschaftsuniversität Wien, where I am also a Research and Teaching Associate. Having gained my BSc at SSE Riga and my MSc and CEMS/MIM at SSE, I can certainly claim that choosing the SSE brand for higher education in Business & Economics is the smartest choice in the Baltic Region. Innovative and interactive tuition, tight collaboration with companies, great colleagues, active social life, profound values and traditions, and life in probably the most beautiful Scandinavian city, all validated my choice of the SSE MSc. My initial professional career after graduation and my recent decision to enter academia are largely influenced by my experiences and acquaintances from my SSE years. One of these acquaintances, one of the most curious and irrepressible persons I ve ever met, the incredibly talented Associate Professor Emma Stenström, has inspired me to pursue my way in academia and to focus my research on Creative Economy and Creative Management. JAN-CHRISTOPH WÖBER Specialization in Finance After graduation I joined the Nordic Corporate Coverage team at the Royal Bank of Scotland (RBS) in Stockholm, where we primarily serve the bank s Nordic clients in 38 countries with key focus on financing, risk management and transaction services. Having earned my bachelor s degree in the Netherlands, it was an easy choice from a list of European top-tier universities to pursue graduate studies at SSE. The school enjoys an excellent reputation both academically and within the business-world, offering a very strong corporate network. The teaching style allows for close contact with professors leading in their field, and the international nature of the MSc programs finally provides great opportunity to study alongside exceptional and passionate students with diverse backgrounds from all around the world. I did expect a significant workload and challenging classes, but beyond that, studying at SSE turned out to be a highly defining and enjoyable experience during which I made numerous friends for life. After investment banking internships in Frankfurt and London, I was keen to continue living in Stockholm and it was again the considerable corporate network that created the opportunity for me to join RBS in Stockholm. SSE gave me a world-class education, opened many doors and will remain a memorable bright spot in my life. CHARLOTTE SVENSSON Specialization in Economics I work as a Country Analyst at EKN, a government agency that promotes Swedish exports by insuring exporting companies and banks against the risk of non-payment. I primarily analyze economic, financial and political risks in Latin American countries. After reviewing various programs for an MSc in Economics, choosing SSE was easy. I was attracted by its close contacts with business, its quality of education, and its international profile, including exchange programs with top schools all over the world. My expectations were high when I started, but they have all been met. What really exceeded my expectations were the amazing people at SSE: my inspiring, motivated and fun classmates, from many careers and countries; the active student association and its interesting events, company presentations, and international projects; and the professors and their dedication and willingness to interact and discuss with students. My master s degree has opened up many opportunities, partly because many attractive employers have positive experience of SSE students. Also, the theoretical concepts from my courses at SSE and my exchange semester in Paris have proved extremely useful. But most of all, the analytical toolbox and problem-solving skills I developed at SSE have been important assets from the start of my career. CHRISTIAN BETZ Specialization in Accounting & Financial Management After graduating from SSE, I joined Vodafone Germany as a management trainee. I have rotated through functions and projects in finance and accounting and will soon spend three months in the European CFO office at Vodafone Group HQ in London. After earning a Bachelor s degree in Frankfurt, I chose SSE due to its excellent Europe-wide academic reputation, the unique curriculum of the specialization in Accounting & Financial Management, and the great location in beautiful Stockholm. SSE provided me with a first-class education. The MSc in Accounting & Financial Management is highly regarded, and that must be because of the program s unique blend of lectures, seminars and guest presentations. I also studied as an exchange student at the MBA program at Tsinghua University, Beijing, which perfectly rounded off my education. Apart from studies, what is valuable are the personal friendships, the international network, and the memories. I proudly recall representing SSE at international sports tournaments as a member of the Student Council. The degree made a difference in my job search and also equipped me with a toolset of practical relevance in my daily tasks. The accounting faculty s excellent program really combines accounting and finance in a way that prepares you for a variety of finance functions. 14 This piece of printed matter was produced by the Program Office at SSE 15